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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 665.67-0.9%4:00 PM EST

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To: pater tenebrarum who wrote (10330)4/8/1999 7:42:00 PM
From: pater tenebrarum  Read Replies (1) of 99985
 
PUT/CALL ratios for today:

total CBOE: 0,60
individual equity: 0,37
OEX : 1,68 (!)
VIX: 23,33

the low ratio on individual equities remains a bit of a concern, but the continued heavy OEX put volume in the face of the market hitting record highs shows skepticism is alive and well. 71,954 OEX puts changed hands today, dwarfing even yesterdays heavy volume. the VIX gave very little ground (-0,20) compared to yesterday and would have to drop to 20 or thereabouts to raise a red flag. the overall picture confirms what i keep on saying about the advance being greeted with caution and disbelief. based on this, the rally should continue.

hb
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